Q2. What are the main determinants of total net in ows?
In both the pre-crisis and post-crisis period, the main determinants of total net in ows (columns 1-4) are the growth di¤erentials and policy rate di¤erentials, whereas risk aversion does not come in statistically signi cant.
Q3. What countries are excluded from their benchmark results?
in their benchmark results the authors focus their analysis on emerging Asian and Latin American economies, excluding Hong Kong and Singapore.
Q4. What are the main reasons why EMEs have used more macroprudential measures in recent?
EMEs have also used more macroprudential measures in recent years to strengthen their nancial systems and target speci c sectors, such as property markets, that may be especially susceptible to asset bubbles.
Q5. how much would the eects in the post-crisis period?
For the FE model, which was used in gure 10, while a percentage point increase in the policy rate di¤erential in the pre-crisis period would enhance net total in ows by a negligible amount, in the post-crisis period, the e¤ect would be 0.7 percent of GDP.
Q6. how much sensitivity to policy rate dierentials is the portfolio ows model?
For the portfolio ows model, the sensitivity to policy rate di¤erentials increases statistically signi cantly in the post-crisis period (column 4), again from a negligible e¤ect in the pre-crisis period to a 0.6 percent of GDP e¤ect in the post-crisis period.
Q7. What is the usual interpretation of the term "Push"?
The usual interpretation seems to be that "push" brings in the problematic kind of ows, while "pull" brings in the acceptable kind.
Q8. What was the IOF on foreign investment in equities and certain types of corporate?
the IOF on foreign investment in equities and certain types of corporate bonds was eliminated in December 2011 (which is assigned to 2012:Q1), but subsequently the IOF on external borrowing by banks and rms was extended twice in 2012:Q2 to cover longer tenors.
Q9. What is the effect of the pre-crisis model on net capital in ows?
If the authors apply the pre-crisis model to the post-crisis behavior of the determining variables, the model somewhat underpredicts total net capital in ows, but vastly underpredicts portfolio net in ows.
Q10. What are some of the measures that are not speci cally aimed at foreign investors?
In addition, measures that are not speci cally aimed at foreign investors may still restrict the in ows indirectly, such as the restrictions applying to domestic borrowers rather than to foreign lenders, and therefore are included in their database.
Q11. What is the argument that if the imposition of controls is leaked in advance, ?
But it could be argued that if news about imposition of controls is leaked in advance, investors may choose to bring in capital in advance of the imposition of controls, and subsequently ows might be seen to slow.